Centrifugal Blood Pump Market

What is Future Outlook for Centrifugal Blood Pumps Market in Comparison to Historical Pattern?

Mechanical centrifugal blood pumps were more often used in the cardiopulmonary bypass surgeries, but the increasing advancements and growing demand for electronic motors took over the market for mechanical motor pumps. The key benefit of electronic pumps is process optimization and energy efficiency, through which centrifugal blood pump systems help in managing the cost of surgeries for cardiopulmonary bypass. Also, there are roller that were widely used in the cardiopulmonary surgeries but the preference for centrifugal blood pumps is increasing due to its various advantages such as centrifugal pumps are small in size and represent less capital investment and have low maintenance costs. The demand for centrifugal blood pumps is significantly rising and the market is expected to grow with the CAGR of 4.0% during the forecast period.

According to FMI’s analysis, centrifugal blood pumps sales have grown at 3.3% CAGR between 2015 and 2019.

A slew of cardiovascular products were launched for the management of cardiac disorders over the last decade and development of more are currently underway. With leading manufacturers expecting the demand to surge amid COVID-19, centrifugal blood pump sales are set to grow steadily through 2030.

Due to the outbreak of coronavirus, there has been a disruption in the demand and supply of various medical devices, this has impacted the revenue of the centrifugal blood pumps. However, this is considered to be a temporary effect and the market is expected to recover soon. The pandemic has led to a decrease in the patients flow in the hospitals, specialty clinics and ambulatory surgical centers. This has caused a reduction in the number of cardiopulmonary surgeries performed/year, which in turn has affected the centrifugal blood pumps market.

What is the impact of FDA Approvals on Centrifugal Blood Pumps Market?

Technological advancements in centrifugal blood pumps have been favoring market growth. Companies are increasingly focusing on developing smart pumps to meet the demand of end users. Major players in the market are getting a stamp of approval for their advanced centrifugal blood pumps in the market. These approvals for different products further help in gaining traction from end users, which in turn is likely to increase the revenue of the centrifugal blood pumps. For instance, in December 2019, Qura received CE Approval for its Quantum Centrifugal Blood Pump.

What is the Regulatory Impact on Centrifugal Blood Pumps Sales?

The World Health Organization (WHO) has forecast heart diseases to remain the leading causes of death around the world. Heart ailments have been number one reason causing death at the global level for the last 20 years. However, it is now killing more people than ever before. The number of deaths from heart disease increased by more than 2 million since 2000, to nearly 9 million in 2019.

Improvements in standard healthcare policies and rising focus on making advanced treatment better accessible will create lucrative growth prospects. For instance, the implementation of the Affordable Care Act helped nearly forty million uninsured Americans gain access to healthcare services.

Likewise, health services are largely free in England. The National Health Service (NHS) provides primary care, preventive medicines, and hospital services to “ordinarily resident” in the country. From 2018, radical changes were introduced in NHS that will allow social care leaders to formally devise care for individual patients, which will be increasingly made available away from hospitals. These developments aimed at making healthcare better accessible will present a conducive environment for centrifugal blood pump sales.

Similarly, the government in China is still working to provide higher level of public medical insurance that will allow the 1.4 billion people enjoy equal medical resources of high quality. China is ensuring the delivery of comprehensive lifecycle health services for its people, which is known as the “Healthy China Strategy.” China has rebuilt its health care system, especially for the rural area. Every person is covered by basic health insurance. In addition to covering the employed urban population, it also takes care of the urban unemployed and rural population, effectively safeguarding the health of the Chinese people.

Country-wise Insights

How Big is the Opportunity for Centrifugal Blood Pumps Manufacturers in US?

FMI has projected North America to remain one of the most lucrative markets throughout the course of the forecast period. One of the key factors supporting expansion is the region’s high healthcare spending. According to preliminary forecasts by CMS’ Office of the Actuary, the overall healthcare spending in the United States alone is likely to increase at 5.4% between 2019 and 2028, outpacing the country’s GDP by 4.3%.

Furthermore, the U.S. remains one of the largest markets for medical devices in the world, which invariably makes it a lucrative pocket for centrifugal blood pumps manufacturers. According to SelectUSA the medical devices market in the U.S. accounted for 40% of the global market in 2017. By 2023, it is expected to reach US$203 billion.

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Favorable healthcare policies, coupled with high per capita healthcare spending, has created a conducive environment for the adoption of centrifugal blood pumps devices in the U.S. Also the presence of leading players is supporting growth in the U.S. Strategies undertaken by these companies include product launches and expansion plans, which will continue aiding overall expansion in the U.S.

How Geriatric Population is Influencing Medical Device Market in China?

The world’s geriatric population is growing at an unprecedented rate. Today, 8.5 percent of people worldwide (617 million) are aged 65 and over. According to a new report, “An Ageing World”, this number is projected to become nearly 17 percent of the world’s population by 2050. Many countries in Asia are further along in the process, or moving more rapidly. China is not only the country with the largest population on earth, it is also the country with the fastest aging population. This is mainly due to decades of falling birth rates on the one hand and steeply rising life expectancy on the other. As a result, the aging population will become a major challenge for Chinese society in the decades to come. As the chances of CVD increase with age, older individuals are more likely to suffer from cardiovascular disorders, which impacts the centrifugal blood pumps demand in the country.

How is Rising CVD Prevalence Affecting Growth in U.K.?

Over the past 25 years, the absolute number of CVD cases has increased in Europe and similar trend is observed in the U.K. as well. According to bfh.org.uk, around 7.4 million people are living with heart and circulatory diseases in the U.K. Also coronary heart disease has been identified as the most common type of heart and circulatory disease. With the prevalence of heart ailments continuing to rise, the demand for centrifugal blood pumps is expected to get higher in the country.

Besides this, the presence sophisticated healthcare infrastructure has been aiding the overall expansion in the U.K. The country has been touted to be at the forefront of global scientific research. As per the Department of International Trade U.K., the country is committed to increase its research and development (R&D) spending to 2.4% of GDP by 2027. With focus on healthcare increasing and government taking initiatives to encourage investment in the sector, the centrifugal blood pumps market will be presented with impressive scope for expansion.

How are Healthcare Policies in Germany Supporting Growth?

According to the Federal Statistical Office, the healthcare spending in Germany increased by 4% between 2017 and 2018. The country’s healthcare spending accounted for 11.7% of the overall GDP in 2018. Besides this, the healthcare spending within Germany was forecast to reach 407.4 billion Euros by 2019. The country’s thriving healthcare sector has been providing a conducive environment for growth of the market for centrifugal blood pumps.

Also growth in the country is supported by its excellent insurance coverage. According to the National Center for Biotechnology Information (NCBI), nearly 70 million people, which approximately covers 85% of the population are encompassed by statutory health insurance and another 11% of Germany is covered by substitutive private health insurance. The presence of favorable reimbursement policies also supports the overall expansion.

Prospects in France Supported by High Healthcare Spending

According to the World Bank, healthcare spending in France stood at 11.25% of the GDP in 2018. While this figure represented decline in healthcare spending in comparison to that of previous hear, the position of healthcare in France continues to remain that of national priority. This, coupled with favorable government policies, has been pushing growth in France.

According to the Fondation de France, one in three French people poses major risk factor for cardiovascular diseases. France records nearly 120,000 cases of heart attacks every year. With the incidence of heart diseases not showing any signs of reducing, France presents lucrative scope for the expansion of the market.

Why are Electronic Centrifugal Blood Pumps More in Demand?

The rising demand for electronic centrifugal blood pumps from hospitals and ambulatory surgical centers is substantially increasing the revenue growth of the centrifugal blood pump market. The main benefit of electronic pumps is process optimization and energy efficiency, through which centrifugal blood pump systems help manage the cost of surgeries for cardiopulmonary bypass. This is encouraging the companies to develop advanced centrifugal blood pumps in the market to meet the demand of the end users.

Why are Hospitals Leading End Users?

The demand for centrifugal blood pumps will remain significantly high across hospitals. The higher number of patient visits and comparatively more advanced infrastructure are key factors supporting growth within the hospitals segment. FMI has projected hospitals to remain dominant through the course of the forecast period. Besides this, the segment is expected to account for nearly 67.6% of the global market in 2021.

Competitive Landscape

Manufacturers in the centrifugal blood pumps market are aiming at strategic collaborations with service providers to address the requirements of an expanding patient pool. They are aiming at consolidating their position through acquisition, collaborations and partnerships with small and medium sized manufacturers in the market. Some of these companies are entering into collaborations, besides acquiring smaller or medium sized firms with an aim to develop and upgrade their technology and broaden their product portfolio with the development of new products. For instance, in June, 2017, Qura entered into a business partnership with Spectrum Medical. In addition, increasing investments in the healthcare sector in emerging countries is anticipated to boost the centrifugal blood pumps demand in developing regions.

In Feb 2018, LivaNova PLC entered into an agreement to acquire TandemLife, a privately held company focused on advanced cardiopulmonary temporary support solutions. 

There is ample focus on innovations and FDA approval among players. Major players are coming up with their advanced technologies in the market. For instance, Affinity CP Centrifugal Blood Pump, The Affinity CP centrifugal blood pump, part number AP40, is a low prime centrifugal pump with smooth cone and low-profile fins, that gently handles blood, resulting in low hemolysis. It is designed for use with Bio-Console™ pump speed controllers with a new, high efficiency remote drive, 560A.

Some of the leading companies operating in the centrifugal blood pumps market are:

• Medtronic Plc
• Thoratec Corporation (Abbott)
• Terumo Corporation
• Qura Srl
• Braile Biomedica Ltd.
• LivaNova, PLC
• XENIOS AG (Fresenius Medical Care Company)
• Getinge AB

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

Key Questions Answered in the Report

Q1. Which is the most lucrative market for centrifugal blood pumps?

US currently leads the global market for centrifugal blood pumps. Sales in US will be over 42% of total demand throughout the forecast period.

Q2. Which is the most often used motor in the blood pump system?

Electronic motor is mostly widely used motor in the centrifugal blood pumps. Electronic centrifugal pumps offer the advantages of process optimization and energy efficiency, through which centrifugal blood pump systems help manage the cost of surgeries for cardiopulmonary bypass.

Q3. Which end user is driving sales of centrifugal blood pumps?

Hospitals segment will remain the most lucrative segment in the end user segment as it serves as the primary center for treatment and diagnosis of major chronic disorders.

Q4. Which are some of the leading companies offering centrifugal blood pumps?

Some of the leading companies offering centrifugal blood pumps are Medtronic Plc, Thoratec Corporation (Abbott), Terumo Corporation, Qura Srl, Braile Biomedica Ltd., LivaNova, PLC, XENIOS AG (Fresenius Medical Care Company), and Getinge AB

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Key Segments

Motor

• Electronic
• Mechanical

End User

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Middle East and Africa (MEA)
• Oceania